AR HB1376

Amends Arkansas Code § 27-14-727 to extend "transfer on death" certificate of title provisions to include watercraft in addition to motor vehicles, defining watercraft as vessels with inboard or outboard motors manufactured on or after January 1, 2020.

Allows vehicle and watercraft owners to designate a beneficiary who automatically becomes the owner upon the owner's death by operation of law, without requiring the beneficiary's signature or consent during the owner's lifetime.

Requires applicants to submit specific information including beneficiary's full legal name, last four Social Security number digits, address, vehicle/watercraft identification details, and owner's Arkansas driver's license or identification card number, along with a $10.00 processing fee.

Prohibits issuance of transfer on death certificates if the vehicle or watercraft is encumbered by a lien or held as a tenant in common with another person; if a lien is subsequently requested, the beneficiary must be removed and the lien added.

Establishes that the transfer upon death is not testamentary and not subject to probate administration; beneficiary designation cannot be changed by will or other means except by filing a removal or change application with the Office of Motor Vehicle or by selling the vehicle or watercraft.